Bonti Announces Close of $15.5 Million Series C Funding and
Appointment of David Ramsay as Chief Financial Officer

Latest Financing to Enable Continued Clinical Development of Lead
Product EB-001 to Treat Musculoskeletal Pain

January 23, 2018 08:44 AM Eastern Daylight Time

NEWPORT BEACH, Calif.--(EON: Enhanced Online News)--Bonti, a privately-held, clinical-stage biotechnology company, today
announced it successfully closed a $15.5 million Series C financing,
bringing the cumulative investment in the Company to over $36 million.
Capital from the round will be used to continue developing EB-001, a
unique botulinum neurotoxin, for its targeted therapeutic and
aesthetic indications with significant addressable unmet needs in
patients. In conjunction with this funding and in preparation for the
rest of 2018 and beyond, the Company also announced the appointment of
David Ramsay as Chief Financial Officer (CFO).

Funds from the latest round are expected to enable completion of an
ongoing first Phase 2 pain study, LANTERN-1 (Long-Acting
NeuroToxin-ERelief, Non-opioid),
initiation and completion of a second Phase 2 pain study (LANTERN-2) and
preparing for an End of Phase 2 FDA meeting. The Series C proceeds will
also be used for market research and for working capital.

In addition, Bonti will be appointing David Ramsay as Chief Financial
Officer, effective February 2018. Mr. Ramsay is currently a Bonti
director and was formerly CFO at Halozyme Therapeutics, Inc. (NASDAQ:
HALO), where he was responsible for leading the finance, accounting,
reporting, tax, treasury, investor relations, information technology and
commercial organizations. He was part of the management team that helped
guide the company through the successful development and
commercialization of its first products.

“We’re grateful both to our new investors who joined this funding round
and to our existing investors who participated in this financing,”
remarked Fauad Hasan, CEO and co-founder. “As happened in our previous
fundraising efforts, participation in this round exceeded our Series C
target, highlighting the strong interest and excitement for Bonti’s
vision, for our rapid progress to date and for our team. We plan to
continue executing effectively to exceed major development milestones
and to briskly advance the pipeline for our lead candidate, EB-001, in
2018.” He added, “It’s also tremendously exciting to welcome David
Ramsay to our senior management team. We eagerly anticipate leveraging
his vast knowledge and experience to help propel our enterprise forward.”

“There remains an urgency to find novel, non-narcotic alternatives to
treat pain to help combat the devastating opioid epidemic raging in the
United States currently,” commented Jonathan Lim, M.D., Chairman and
co-founder of Bonti and Managing Partner of City Hill Ventures, LLC,
which led this Series C investment round. “Investments and innovation
are critical to advance development of new therapies, such as Bonti’s
EB-001, to provide patients and healthcare providers better healthcare
options for post-surgical pain and other unmet needs. It is a privilege
to be part of this effort to foster the development of this unique
neuromodulator platform with transformative potential for patients.”

About EB-001

Bonti’s lead product candidate, EB-001, is an investigational botulinum
neurotoxin serotype E (BoNT/E). EB-001 has a mechanism of action similar
to the marketed botulinum neurotoxin serotype A (BoNT/A) products
though it has a differentiated clinical profile. EB-001 has a fast onset
of action (within 24 hours) and a short duration of effect (about 3 – 4
weeks). Currently marketed BoNT/A products have an onset of action
around 3 – 7 days and a duration of effect around 3 – 4 months. The
unique target clinical profile of EB-001 may be well suited for a vast
range of aesthetic and therapeutic uses, including for the treatment of
post-surgical and non-surgical musculoskeletal pain, with currently
unmet needs.

About Bonti

Bonti, based in Newport Beach, California, is a rapidly emerging
biotechnology company founded by world class neurotoxin experts with
proven prior success at Allergan. This team, with deep neurotoxin,
aesthetic and pain expertise, is uniquely qualified to develop treatment
paradigms driven by a novel neurotoxin platform designed to become an
innovative leader in both aesthetic and therapeutic markets. By turning
the science of neurotoxins into beneficial patient and healthcare
provider solutions, Bonti seeks to improve lives by successfully
addressing key unmet needs in markets with significant addressable
opportunities.